Van Nuys Warehouse Sells for $11.3 Million

A Van Nuys warehouse has sold for $11.3 million, or $368 per square foot.  

Built in 2009, the 30,586 square foot industrial facility — located at 16201 Lindbergh Street — features 26-foot clear height, two loading docks, two ground level doors, and abundant surface parking.  

The seller will lease back a portion of the building as part of the transaction. 

Located next to the Van Nuys Airport and minutes to the 405 Freeway, the property can be used for last-mile deliveries and e-commerce in the San Fernando Valley.  

NAI Capital Commercial Co-CEO Chris Jackson and Executive Todd Lorber represented the seller, Lindbergh Properties LLC, and Associate Lucy Hartford represented the buyer, Longpoint Realty Partners, in the transaction. 

The purchase comes at a time when industrial properties are low in inventory and high in demand. 

“The seller was very happy with the sale as real estate prices have increased tremendously this year and industrial buildings for sale remain in huge demand,” Jackson said in a statement. 

The Van Nuys submarket’s industrial sector has seen much activity in recent quarters. Deals include the sale of a six-building multitenant industrial park at 14825 Oxnard St. to Arka Properties Group for $19.2 million last March; the $2.2 million trade of a 5,330-square-foot warehouse at 14200 Aetna St. that same month; and a 28,000-square-foot warehouse at 16333 Raymer St. leased to a baby products company last June.  

In July, an 18,710-square-foot warehouse at 7116 Valjean sold for $6.3 million.